Crest Nicholson announced it would be taken private last week after it accepted a 拢715m offer from the Castle Bidco consortium led by HBOS and Sir Tom Hunter, the Scottish entrepreneur.

The deal, which is worth 620p a share, follows Castle Bidco and the Reuben Brothers鈥� acquisition of retirement homes specialist McCarthy & Stone last September.

It marks a further shrinking of the quoted housebuilding sector: Barratt is buying listed housebuilder Wilson Bowden, and Persimmon acquired Westbury Homes last year.

John Matthews, Crest Nicholson鈥檚 chairman, said: 鈥淭he acquisition is good and certain cash value for Crest Nicholson shareholders and reflects fairly the company鈥檚 prospects.鈥�

The housebuilder rejected a bid worth 拢660m from Castle Bidco in December. It posted a 2% rise in pre-tax profit to 拢80m in January, accompanied by a 1.2% dip in turnover to 拢691m.

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